More skin in the game can lift mutual fund performance
Synopsis
The adage gained popularity in India’s financial circles last week when the country’s capital markets regulator asked key officials of the mutual funds to invest at least 20 per cent of their salary or comprehensive compensation in the schemes they oversee from July.
The etymology of the phrase “Skin In The Game” investment by an insider is not clear.
Some say it was used to describe a horse owners’ stake in his own horse in derby races; Wall Street likes to believe that it came from Warren Buffett’s collection of metaphors. Regardless of its origin, the adage gained popularity in India’s financial circles last week when the country’s capital markets regulator asked key officials of the mutual funds to
India Pesticides, KIMS get Sebi s go-ahead to launch IPOs
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Last Updated: May 03, 2021, 07:13 PM IST
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Synopsis
The two companies filed their preliminary papers with the Securities and Exchange Board of India (Sebi) in February.
Sebi s observation is necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO)and rights issue.
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NEW DELHI: Agrochemical technicals firm India Pesticides and the Krishna Institute of Medical Sciences have received capital markets regulator Sebi s go-ahead to float initial share-sales.
Krishna Institute of Medical Sciences (KIMS) and India Pesticides obtained Sebi s observation on April 28 and April 30, respectively, an update with Sebi showed on Monday.
Synopsis
The EPFO manages more than Rs 12 lakh crore of retirement savings of over six crore subscribers. The new investment pattern will be effective from March 15, 2021.
Agencies
EPFO will not be allowed to invest directly or indirectly in securities of the companies or funds incorporated and/or operated outside India.
The labour ministry has notified the changes in the investment pattern of the Employees Provident Fund Organisation (EPFO), paving way for the retirement fund body to invest up to 5% of its investible surplus in alternate investment funds (AIFs) that support infrastructure, micro, small and medium enterprises (MSMEs), venture capital funds and social venture capital funds.
In order to align the interest of the Key Employees of the Asset Management Companies (AMCs) with the unitholders of the mutual fund schemes, the SEBI stated that a part of compensation of the Key Employees of the AMCs shall be paid in the form of units of the scheme(s).A minimum of 20% of the salary/ perks/ bonus/ non-cash compensation (gross annual CTC) net of income tax and any statutory contributions (i.e. PF and NPS) of the Key Employees of the AMCs shall be paid in the form of units of Mutual Fund schemes in which they have a role/ oversight. The compensation paid in the form of units shall be proportionate to the AUM of the schemes in which the Key Employee has a role/oversight.
Sujit Prasad takes over as executive director of SEBI
Sujit Prasad takes over as executive director of SEBI
Sujit Prasad Has Taken Over The Charge Of Executive Director Of Securities And Exchange Board Of India (SEBI) And Will Handle Market Regulation Department, It Said On Thursday.
News Nation Bureau | Edited By : Vivek Arya | Updated on: 27 Oct 2017, 06:36:44 AM
New Delhi:
Sujit Prasad has taken over the charge of executive director of Securities and Exchange Board of India (SEBI) and will handle market regulation department, it said on Thursday.
Previously, Prasad was the chief general manager and acting as executive assistant to the chairman.